India and Brazil have set an ambitious target to boost their bilateral trade to 30 billion dollars by 2030, up from the previous goal of 20 billion dollars. Secretary (East) in the Ministry of External Affairs, P Kumaran, informed that the decision was taken during Brazilian President Luiz Inacio Lula da Silva’s visit to India, where he emphasised that the earlier target was not ambitious enough.

Mr Kumaran, while speaking at the Special Briefing by MEA on the State visit of the President of Brazil to India, said that Silva thought that the earlier target was not ambitious enough, hence proposed a larger target. The two countries are looking to enhance cooperation in various sectors, including Oil, gas, and renewable energy, launching Brazilian satellites and building satellites together, biofuels and sustainable aviation fuel, agriculture, livestock, and healthcare, as well as Yoga. This move is expected to strengthen India-Brazil ties and promote economic growth.